A Tale of 2 Banks
SunTrust and Bank of Hawaii have been moving in opposite directions. The former reported a huge jump in profit, but much of that was due to a securities gain from its outsized ownership stake in Coca-Cola. Its net interest margin contracted slightly, and it set aside extra funds to pay for losses on loans sold to government-sponsored entities such as Fannie Mae.
Over at Bank of Hawaii, meanwhile, net income is down $2.1 million from last year, though it managed to grow loans 2% during its most recent quarter and kept its net interest margin stable. Return on equity came in at 16.02% for the quarter, but that was a decline from last year.
See more on both banks in the following video.
The article A Tale of 2 Banks originally appeared on Fool.com.Anand Chokkavelu, CFA owns shares of Bank of Hawaii. Fool contributor Matt Koppenheffer has no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of Hawaii. Motley Fool newsletter services recommend Coca-Cola. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.